Crypto winter exacts new tolls as companies brace and restructure
Nearly a decade after it was founded, crypto payment company Wyre may be shutting down, former employees told Axios.
Less than a year since it opened its physical location in Manhattan’s SoHo, EmpireDAO will close its doors and focus on a “clean exodus” after falling short of a targeted $250,000 crowdfunding goal.
The company still is operating, according to Giannaros; however, its plans including scaling back, he told Axios. In another sign of the market's downturn, it’s also the end of an EmpireDAO's tenancy at 190 Bowery in New York, which illustrates the boom-and-bust nature of the digital currency ecosystem.
The move to vacate the premises comes less than a year after founder Mike Fraietta opened its doors to a community that has since amassed 1,500 members with 300 daily visitors, according to
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Web3 Co-Working Hub EmpireDAO Closes Amid Bear Market Woes.EmpireDao, a Web3 co-working hub that has amassed a community of over 1,500 members, is closing its doors at 190 Bowery in Manhattan. elitanjourno reports
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FTX Co-Founder Sam Bankman-Fried Pleads Not Guilty to Fraud, Campaign Finance ChargesSam Bankman-Fried pleaded not guilty to all eight charges against him — including fraud and violating campaign finance law — in connection to the collapse of his cryptocurrency exchange FTX.
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Wyre said to shut down as CEO admits company 'scaling back'Wyre, a crypto payments company founded in 2013, has told employees that it is shutting down amid layoffs, Axios has learned.
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More Clouds, Warm Monday; Severe Storm Risk Tuesday - Alabama NewsA dense fog advisory begins at 9PM Sunday and continues through 10AM Monday for Wilcox, Butler, Crenshaw, and Covington counties. Monday becomes mainly cloudy with some showers or even storms possible, especially during the afternoon or evening.
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Clouds take over for Monday, but temps will run 20 degrees above averageJanuary thaw is coming early; periods of rain likely Thursday.
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